Rajesh Kumar Agarwal Selected as Director (Finance) at Power Finance Corporation

Rajesh Kumar Agarwal, currently Executive Director (Finance) at Power Finance Corporation, has been selected for promotion to Director (Finance) at the same organisation, following a Public Enterprises Selection Board meeting held on January 28, 2026, where eleven candidates were interviewed for the position.

Power Finance Corporation is a Maharatna central public sector enterprise that provides financing for power sector projects across generation, transmission, and distribution, and its Director (Finance) holds board-level responsibility for the organisation's financial strategy, resource mobilisation, and lending portfolio management, a significant role given PFC's scale as one of the country's largest power sector-focused financing institutions.

Agarwal's promotion from Executive Director (Finance) to the board-level Director (Finance) position represents an internal elevation, a common pattern for PESB-recommended board appointments at public sector enterprises where an existing senior executive with established familiarity with the organisation's operations is selected over external candidates.

The eleven-candidate interview pool PESB considered for this single vacancy reflects the competitive nature of board-level appointments at major public sector financial institutions, with candidates typically drawn from senior executives within the organisation itself as well as officers from other public sector financial and power sector enterprises.

PFC has played a central role in financing India's power sector expansion and, more recently, renewable energy and infrastructure financing initiatives, making the Director (Finance) position significant for decisions on the organisation's lending priorities and financial risk management as it continues expanding into newer financing verticals beyond traditional power generation projects.

Following PESB's recommendation, the appointment proceeds through the standard clearance process involving the Ministry of Power and the Appointments Committee of the Cabinet before formal notification.

The selection was processed through the Public Enterprises Selection Board's standard procedure for board-level appointments at central public sector enterprises under the Ministry of Power.

PESB's interview process for this vacancy, drawing eleven candidates for a single Director-level position, reflects the level of competition typical for board appointments at PFC given the organisation's standing among the more prominent power sector financing institutions eligible officers and executives aspire to lead.